Houston Chronicle The nation’s stockpiles of commercial crude oil plunged by 11.5 million barrels last week thanks to record-high crude exports, adding more bullish news to oil prices that already were spiking worldwide amid an escalating U.S. conflict with Iran. The U.S. exported nearly 4.5 million barrels of crude per day last week – easily a new weekly record –
CNBC Iran has vowed to retaliate over the assassination of the country’s top military commander Major-General Qasem Soleimani. Iranian Foreign Minister Mohammad Javad Zarif warned Friday that the targeted killing of Soleimani was “extremely dangerous & a foolish escalation.” “The U.S. bears responsibility for all consequences of its rogue adventurism,” Zarif said on Twitter. Soleimani, head of Iran’s elite Quds Force,
CNBC Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a U.S. airstrike killed key Iranian and Iraqi military personnel. International benchmark Brent crude traded at $68.65 Friday morning, up more than 3.6%, having earlier spiked to an intraday high of
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